National Assembly Confirms New Bank Chief

YEREVAN (Noyan Tapan)–The Armenian parliament confirmed Wednesday the appointment of Tigran Sargsian as the new chairman of the country’s Central Bank.

Sargsian was appointed last month by Acting President and Prime Minister Robert Kocharian.

He will replace Bagrat Asatrian whose resignation followed that of Levon Ter-Petrosyan in early February.

Sargsian–38–until recently headed the Armenian Bank Association and was the chairman of the finance and budget committee of the first post-Communist parliament.

He told the National Assembly Wednesday the Bank will take a "tough" position in its relationship with the government–ruling out any softening in its monetary policy.

He praised his predecessor’s role in the achievement of the relative macroeconomic stability in Armenia.

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